The petrol prices in India have been a matter of concern for many. The price keeps increasing and the common man is suffering. Even during the Budget presentation of 2021-22, Finance Minister Nirmala Sitharaman announced farm cess on petrol and diesel.
The increase in fuel price is a result of firm global crude and product price. In the month of January, petrol prices increased by Rs 2.59 per litre and diesel by Rs 2.61. It is causing problems for the common man; especially in major metro cities, the prices are shooting up rapidly.
On February 19, the petrol price reached it high with Rs 90.19 per litre in Delhi and Rs. 96 in Mumbai. It came as a shock when the price crossed Rs 100 per litre mark in Madhya Pradesh and Rajasthan.
In the list of countries where the affordability of petrol and diesel are measured, India racked on 131st position. Out of 157 countries, India’s rank was 131st. When compared to neighboring countries, petrol is not really affordable in India.
Even in Bangladesh the petrol prices are low. So even if the daily income of a person is relatively less, they still find fuel affordable. Even in Pakistan, the affordability is more.
In India an average person can buy 4 litres of petrol with their one day income but in Pakistan, a person can buy 5 litre and in China, the prices are such that an average Chinese person can afford as much as 28 litre of petrol with a day’s earning.
If we compare and talk about affordability, even then the neighboring countries are leading. To buy one litre of petrol, an average person in most of the large countries will have to pay 5% of their day’s income. In India, a person will have to spend almost 25% of their single day’s earnings in order to afford one litre of petrol.